Secondly, he went on to mention it cost him $300 to heat 2 rooms for one month over this winter, his concern was the insulation.

Hello, first time poster and would appreciate some feedback on a few areas of concern as I look to expand my buy and hold portfolio. 

My concern is that what if the existing shareholders don't want to sell the shares, then, will they become a partner in the deal or just continue owning the shares equivalent to the apt sq ?

In fact, I advise the owner to stay away so they don't get involved and cause problems.

They are trying to tell me they don't carry insurance to save on costs..... concerning to say the least.

So, not to invalidate your 14 day notice, you should serve it on the 2nd.So the 2 ways is to either go back on the 2nd to give it or pick everyone up on the 2nd and give it then.Be careful of the individual contracts cause this could set you up as a boarding house. 

Buyer is a family friend that’s why I don’t want to cause any negative impact to them.

Rent for $2,300moThere is a substantial amount of growth going on in Tucson right now, causing rapid appreciation.

If you look at the big things that could break in the next 5 years that wouldn't be due to natural causes like hail, you might want $10-$15k in an account to start out with that is available IN CASE something goes wrong before you have brought in a decent amount in monthly cashflow to build up a reserve account. 

You still can’t evict without just cause, but you can raise rent to market leveled.